v3.26.1
Convertible Note (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt

The net carrying value of the Company’s outstanding debt consisted of the following, as of (In thousands):

 

  

June 30, 2026

   December 31, 2025 
Convertible Notes due 2028  $99,600   $235,000 
Discount, net (1)   (4,015)   (11,387)
Debt issuance costs, net (2)   (3,329)   (9,441)
Convertible Notes, net  $92,256   $214,172 

 

(1) Discount as of June 30,2026 consisted of $7.1 million of original issue discount and $4.6 million for the initial fair value of the embedded derivative, less accumulated amortization of $1.3 million, gain on debt extinguishment of $6.4 million.
   
(2) Debt issuance costs as of June 30, 2026 consisted of $9.7 million in debt issuance costs, less accumulated amortization of $1.1 million and gain on debt extinguishment of $5.3 million.
Schedule of Disaggregation of Interest Expense

The table below presents the disaggregation of interest expense for the period June 30, 2026 (In thousands):

 

  

For the six-months ended

June 30,2026

 
Debt discount amortization  $1,017 
Debt issuance cost amortization   843 
Interest expense, net  $1,860 
Schedule of Gain on Extinguishment of Debt

The following table summarizes the net gain on the extinguishment of debt (In thousands):

 

  

Gain on

extinguishment

of debt

 
Excess of the net carrying amount of the repurchased Convertible Notes  $16,248 
Derecognition of debt discount   (6,355)
Derecognition of debt issuance costs   (5,269)
Derecognition of conversion feature derivative liability   1,309 
Total  $5,933 
Schedule of Loan Maturities

The table below reflects the principal amount of loan maturities due over the next five years as of June 30, 2026 (In thousands):

Schedule of Loan Maturities

 

    5-Year Loan Maturities Fiscal Year  
    2026     2027     2028     2029     2030     Total  
2028 Convertible Notes   $ -     $ 99,600     $ -     $ -     $ -     $ 99,600